Won-Dollar Exchange Rate Opens at 1183.0 Won... Breaks Intraday High (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] The won-dollar exchange rate opened at 1,183 won, surpassing the intraday yearly high.

On the 23rd, in the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,183.0 won, up 8.0 won from the previous trading day. Accordingly, it exceeded the intraday yearly high of 1,181.10 won (August 20). This is the highest level since September 15 of last year (1,183.3 won) based on the intraday exchange rate.

The strong value of the dollar during the Chuseok holiday period had a combined effect, and the risk surrounding China's Evergrande Group is also interpreted as a factor reducing the attractiveness of the won.

The dollar index, which was at the 92.22 level earlier this month, recently rose to 93.48, showing a clear dollar strength. Accordingly, during the Chuseok holiday, the offshore market saw the won-dollar exchange rate trading around the 1,190 won level.

The market is also paying attention to concerns about the bankruptcy of China's Evergrande Group. Evergrande announced on this day that it would pay part of the interest on domestic Chinese bonds. However, it has not mentioned the interest of 83.5 million dollars on dollar-denominated bonds.

This content was produced with the assistance of AI translation services.